Rising bunker prices and low shipping rates negatively impacted Wallenius Wilhelmsen's earnings in the third quarter. The Norwegian shipping group reported Friday a total income of US$1 billion in the third quarter, up 7% compared to 2017. The company said the increase was primarily due to increased revenues in both its land-based and ocean segments, driven by a combination … [Read more...]
Wilhelmsen and Wallenius Agree to Merger Deal
International maritime group Wilh. Wilhelmsen Holding and shipping company Wallenius Lines have signed a letter of intent to combine their jointly owned investments and merge ownership of the majority of their vessels. The companies say the new entity, to be named Wallenius Wilhelmsen Logistics ASA, will form a more efficient management structure and enable further synergies … [Read more...]
Wilhelmsen Fined $34 Million
OSLO, March 18 (Reuters) - Norwegian shipping firm Wallenius Wilhelmsen Logistics (WWL) has been fined $34 million by the Japanese Fair Trade Commission for price-fixing in automobile shipping between 2008 and 2012, the firm said on Tuesday. The 3.496 billion yen fine, part of a final cease and desist order, is in line with a preliminary ruling in January. WWL is 50 pct … [Read more...]
WWL Orders Two Post Panamax Car Carriers
Wallenius Wilhelmsen ASA (WWL) said it has signed a deal with Hyundai Heavy Industries (HHI) for the construction of two Post Panamax car carriers to be delivered in 2014 and 2015. "Although the car carrying market at the moment might be somewhat weaker than we would like, we believe that the long term underlying growth potential for deep sea transportation of cars and high … [Read more...]
Wilh. Wilhelmsen Cashing in on Bottomless Demand for Car Shipments to China
Aug. 14 (Bloomberg) -- Record car shipments to China and a rebound in cargoes from Japanese automotive companies recovering from last year's tsunami will mean the most profit ever for Wilh. Wilhelmsen ASA, the world's largest vehicle transporter. European sales to China rose 42 percent to an average of 53,500 vehicles a month this year, according to data from China … [Read more...]